After over two-and-half weeks of "purchase holiday" of cement by real estate players in Andhra Pradesh and Telangana, the cement manufacturers have agreed to reduce prices by Rs 25 per bag.

| TNN | Jul 24, 2014, 06.52 AM IST

NEW DELHI: After over two-and-half weeks of "purchase holiday" of cement by real estate players in Andhra Pradesh and Telangana, the cement manufacturers have agreed to reduce prices by Rs 25 per bag.

National president of Confederation of Real Estate Developers' Association of India (CREDAI) C Shekhar Reddy told TOI that some solution has been found to the problem with the intervention of state governments. He said individual players can go for negotiations with the cement companies.

Reddy said while cement prices have gone up across the country, it was the steepest in the two southern states where it touched Rs 300 per bag. "There is no such purchase holiday by our members across the country," he said.

Cement companies had said they were losing even after increasing prices.

However, this didn't go down well with the real estate developers and national highway builders. An office-bearer of the highway builders' association said private players are not interested to buy cement at high rates for road construction.

The price rise has happened amid the Centre's thrust to go for more concrete highways across the country to build maintenance-free roads.

Road transport minister Nitin Gadkari, who is pushing for concrete roads, has warned the cement companies against any attempt at cartelization.

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